Never queue at a SARS office for a TCC again!

SARS has introduced an incredible new tax clearance system which
will be rolled out in April 2016 (date to be confirmed). The new system makes
use of a dashboard (My Compliance Profile) that reflects real time compliance
indicators e.g. robot indicators where red will mean "non-compliant” and green
will mean "compliant”. The compliance
dashboard is broken down into:

Registration Status

Submission of Returns

Debt

Relevant Supporting
Documentation

The new system will improve efficiency by issuing the taxpayer with
a pin number. This pin number will also allow third parties to check the
compliance status of the taxpayer and will therefore eliminate the need for a
taxpayer to go into the SARS branch and collect a hard copy of the tax
clearance certificate. However, receiving a pin number doesn’t necessarily ensure
compliance. Third parties will need to
log into their eFiling profile to verify the taxpayer’s status.

Tax Compliance Status will also provide a full audit trail for
taxpayers when it is indicated that they are non-compliant. Therefore, a
taxpayer will be able to see exactly what is outstanding in terms of tax
returns and money for all the tax types they have registered. Taxpayers who feel aggrieved will also have
the opportunity to challenge the compliance status.

Please note that all current valid TCC’s will become null and void
as soon as SARS has implemented phase 3 – target date is set for mid-April. Please take this time to
ensure that your eFiling profile is updated, your companies are properly merged
and that TCS and TCS Verification is selected and activated under Rights Groups
on eFiling.

To learn more about the new tax compliance system, please click
here and to download the Step by
Step Guide to the Tax Compliance Status Functionality on eFiling, click
here.

Comments...

SAIT Tax Operations
says...Posted 23 March 2016

Dear Gift and Amanda. Yes, you will definitely be able to apply for Foreign Investment Certificates on behalf of clients and yes, the new TCS system allows you to apply for Foreign Investment Clearance via eFiling. Please see our weekly newsletter for the link to the SARS webinar on this topic. Thank you.

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.